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Goldman Sachs: these 3 stocks could climb more than 40%
Short-term expectations of good news are supporting the markets at this time. Over the past month, the S&P 500 and NASDAQ rose 11% to new highs. Investors are excited about the prospect of a COVID vaccine before winter is over. And the election results, which Democrat Joe Biden will ascend to the presidency while Republicans emerge strengthened in Congress, promise to avoid the extremes typical of a divided government. In short, investors are eagerly awaiting a “return to normalcy” in the coming months. And that leads them to look for stocks that are ready to generate earnings. In this context, analysts at Goldman Sachs hammer the picture on three stocks in particular, noting that each could jump more than 40% in the coming year. After running both tickers in the TipRanks database, we discovered that the rest of the street was also standing squarely in the bull camp. Codiack BioSciences (CDAK) As we all learned from the coronavirus pandemic , something new in medical science can make a huge impact on our world. Codiack aims to turn this principle into good. This research-driven pharmaceutical aims to transform exosomal therapies into a whole new class of drugs. Exosomes are the mechanism for breaking down RNA and can transfer genetic material around a body, and this is where the potential lies. Codiack has developed a design platform for engineering exosome proteins capable of transporting and protecting drug molecules through cell walls. This is because proteins will mimic the pathways used by viruses – but are not viral and are designed to carry a “payload” of therapeutic agents. If successful, exosome therapy offers physicians the opportunity to design a drug that will deliver specific agents to specific cells to fight a specific disease. Codiack is involved in all aspects of exosome therapy, from conception to manufacturing, and currently has an active pipeline of agents – seven, in all – at various stages of discovery, preclinical testing and early phase 1 trials. In the biosciences, pass or fail depends on this pipeline, and its diverse and active pipeline of agents in a new sector of pharmaceutical biotechnology, Codiack has a great resource to attract investors. To attract these investors, the company went public last October, selling 5.5 million shares at an opening price of $ 14.10 per share. Among fans of the health name is the Goldman Sachs analyst Graig Suvannavejh. The analyst wrote: “The biopharmaceutical industry’s interest in exosomes has long been high, but their design for a specific function and their large-scale manufacture have both proven difficult. Among a field of multiple competitors, CDAK has made the most significant progress on both fronts, and as such, we consider its technology platform to be the best in its class. “” Considering the stock’s underperformance (-37%) since the IPO, we see a very compelling risk / reward at current levels, and with key data sets for 2021 to provide potential reduction in risk and a positive shift in equities, “the analyst concluded. Suvannavejh rates CDAK at Buy and his price target of $ 29 shows the extent of his confidence up 222% for the coming year. (To view Suvannavejh’s track record, click here) Overall, Codiack has a strong analyst consensus buy – 3 reviewers have put up buy ratings in recent weeks. The stock is selling for $ 8.90 , and its average price target of $ 24 implies a 166% year-over-year upside potential. (See CDAK stock analysis on TipRanks) Arcutis Biotherapeutics (ARQT) Acrutis is a pioneering researcher in the treatment of dermatological diseases. Arcutis is involved in the discovery of the next ge generation of dermatological treatments – an important niche, especially when one realizes that a common disease, psoriasis, has not been approved by the FDA for a new treatment for more than two decades. recent advances in immunology. and inflammation to find new approaches to skin treatment. The goal is to make it easier for patients and doctors to manage conditions such as psoriasis, alopecia, atopic dermatitis, seborrheic dermatitis, and vitiligo together, to name a few. to enter a phase 3 trial for atopic dermatitis, and is at an advanced stage of phase 3 in plaque psoriasis. Arcutis recently published an update on the positive data from the phase 2 trials of ARQ-151 in atopic dermatitis. The drug is a once-a-day treatment and has shown significant relief of symptoms in the patient, especially the itching and itchy-related sleep problems. This is another title in the Suvannavejh cover universe. The Goldman analyst is impressed with the developments in the company’s pipeline work, noting: “ARQT provided an update on the results of its end-of-phase 2 meetings with the FDA, following their trial. phase 2a of ARQ-151 in atopic dermatitis (AtD). Feedback from regulators has been generally encouraging, in particular, acknowledging the strong long-term safety data generated by ARQT for ARQ-151 in plaque psoriasis… ”As a result, Suvannavejh assesses ARQT at Buy and sets a price target of $ 36 which indicates a margin for 40% growth upward in 2021. (To look at Suvannavejh’s track record, click here) Arcutis recently posted 2 buy reviews, making the consensus rating a moderate purchase. The average share price target is $ 37, which suggests a 44% rise from current levels. (See ARQT Stock Analysis on TipRanks) Oak Street Health (OSH) With the latest stock, we are moving from medical research to medical care. Specifically, Oak Street Health is a primary care clinic operator and is part of the Medicare network. The company has operations and clinics in Illinois, Indiana, Michigan, Pennsylvania and Ohio, as well as New York, North Carolina, Rhode Island, Tennessee and Texas. It’s been around for eight years and went public last summer, with the IPO in August. In the third quarter, the largest publicly traded company, OSH generated $ 217.9 million in revenue. Revenue increased 56% compared to the quarter last year. Earnings per share are as expected at 15 cents. The company’s expansion continues rapidly, and in October Oak Street entered New York City by opening its 70th location in Brooklyn. A planned expansion to Texas, involving a partnership with Walmart, is also going as planned, and Oak Street has opened its first Walmart community clinic in the city of Carrollton in the Dallas-Fort Worth area. Robert Jones, covering that stock for Goldman , has set a target price of $ 74 to support its buying note. At current levels, this target implies an increase of around 58% over the next 12 months. (To see Jones’ track record, click here) “The results suggest operations are still on track, with a few incremental updates from the 2Q call, where management noted a resumption of center openings, marketing efforts (rotated) and in-person visits despite COVID. In Q3, OSH opened 13 new centers and is on track to 73-75 by year-end… The company maintained that it continues to operate at a high level in locations where the number of COVID cases is high like Chicago and Detroit, ”Jones noted. Overall, analyst Strong Buy OSH’s consensus rating is based on 8 reviews, or 7 purchases and a single Hold. The stock is selling for $ 46.94, and its average price target of $ 61.29 suggests it is up ~ 31% for the coming year. (See SST Stock Analysis on TipRanks) To find great ideas for health stocks traded at attractive valuations, visit Top Stocks to Buy from TipRanks, a newly launched tool that brings together all the information about stocks from TipRanks Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
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